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End of Day – Technical Analysis 07 Sept 2015
End of Day Technical Analysis Report for:
EURUSD, GBPUSD, AUDUSD, USDJPY,
, SP500, and US30Y
► EUR/USD: price has formed a double inside bar formation at confluent support at the 50 sma and 1.1100. As discussed in yesterday’s STTS video we talked about this pair having completed an Elliot Wave cycle and being now ready for the next major move, so this inside bar formation at support has become quite significant. A break either side will likely be the start of the next cycle. We believe it will be to the upside.
Technical Recommendation: Looking to go Long.
EURUSD – Daily
► GBP/USD: after Friday’s close below 1.5165 key level, today’s green candle is surprising. We cannot go Long here but rather wait and see if price retraces to the 1.5350 level amd the EMA layer where we will watch how it reacts.
Technical Recommendation: Look for a re-test of 1.5350.
GBPUSD – Daily
► AUD/USD: a nothing day today after Friday’s collapse through key support at 0.7000. Next support level is at 0.6780.
Technical Recommendation: Re-assessing.
AUDUSD – Daily
USDJPY – Daily
► GOLD: price seems to have settled around teh 50 Fib level of the recent bounce and 117.00 support. We think price has just completed a 5 wave cycle here and is likely to rotate to the upside next, so we are hoping for a Buy signal at these levels.
Technical Recommendation: Looking to go Long.
XAUUSD – Daily
► SP500: as discussed in yesterday’s Bonus Video the Index is in our opinion likely to be trading between 1900 and 2030 pre FOMC, so traders should be looking to go Long on any signal near the bottom of said range.
Technical Recommendation: Look for price to respect 1900 support.
SP500 – Daily
► US30Y: price still trading around the 155 level. As discussed in yesterday’s Bonus Video we think the Bond Future is likely to be trading between 153.85 and 162 pre FOMC. So we are looking for Buying opportunities at the bottom of this range.
Technical Recommendation: Looking to go Long.
US30Y Dec Future – Daily
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